7/31/2019 Fast Facts: Recent Cyber Attacks
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October 2012
To: Fast Facts List
Fast Facts: RECENT CYBER ATTACKS
FACT: Since late September 2012, large financial institutions
have been the subject of (or threatened tobe the subject of)
attacks intended to disrupt the availability of their Web sites. A
group that calls itself the Cyber Fighters of Izz ad-din Al Qassam
has claimed credit for these attacks.
FACT: The attacks have flooded certain bank Web sites with an
extremely high volume of electronictraffic from thousands of
locations around the world. This flood of traffic, called a
distributed denial of service (DDoS) attack, is intended to slow
down or disable the banks Web site.
FACT: The attacks are not designed to be and have not resulted
in - a data breach, hacking, orunauthorized access to consumer
information.
Consumers still can access their accounts through alternative
means, including bankbranch offices and call centers.
FACT: The financial services industry has robust cyber
protections in place. Banks collaborate with other banks, federal
regulators such as Treasury, law enforcement
officials, other government agencies such as the FBI and DHS,
Internet Service Providers, andInternet security experts to fully
analyze and deflect online attacks and deliver safe andconsistent
online service.
Financial services institutions use sophisticated online
security strategies to protect customeraccounts and continue to
invest in technology to increase capacity and defend against
potentialattacks.
Financial services institutions are regularly examined by their
primary federal regulator to ensuretheir compliance with
cybersecurity regulations and information standards, including
standardsset in the Gramm-Leach-Bliley Act, Payment Card Industry
Data Security Standard, and FFIECInformation Technology Examination
Handbooks.
Banks collaborate with the Financial Services Information
Sharing and Analysis Center (FS-ISAC) which is an industry forum
for collaboration on critical security threats facing thefinancial
services sector.
FACT: While there is nothing in particular that customers can do
in response to the DDoS attacks,consumers can improve the general
security of their private information by using the following
tips:
Install on your computer and keep updated anti-virus software,
firewall and anti-spywaresoftware.
Set your computers operating system and browser to automatic
download to ensure your operating system and browser include the
latest security updates.
Dont get hooked by phishing. Do not respond to unsolicited
emails requesting personalinformation and do not download
attachments on unsolicited emails.
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October 2012
Use strong passwords and change them regularly. The best
passwords are long a minimum of 8 characters and complex. Not your
birthday or the name of a child or pet. Use a combinationof
numbers, symbols and letter; something meaningful to you like an
acronym or battingaverages, but not easily guessed.
FOR MORE INFORMATION ABOUT THE INDUSTRYS CYBERSECURITY
EFFORTS,PLEASE CONTACT ANN PATTERSON AT [email protected] .
View all previous Fast Facts at www.RoundtableResearch.org
For over 100 weeks, the Roundtable has delivered Fast Facts to
select opinion l eaders in the financial services industry,
Congress, and media. Fast Facts provides easy-to-understand,
reliable
research about current issues facing the financial services.
Financial Services HOTLINE: If you have questions about this
topic or any other issue facing financialservices, please reach out
to Abby McCloskey, Director of Research at the Financial
Services
Roundtable, at 202-589-2531 or Scott Talbott, Senior Vice
President of Public Policy, at 202-289-4322.Learn more about the
Financial Services Industry at www.OurFinancialFuture.com .
OurFinancialFuture.com is continuously updated to bring you the
most useful information about theindustry in real-time.
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